750 credit score family needs help

This is a common scenario for us. Thank you for the question. These days, lenders will not like to use a rental income since there is no history of having one (obviously because you have been living there). This means most lenders will want to include BOTH mortgage payments in your debt-to-income ratios. HOWEVER, in some cases we can show rental income...here is how I can do it... We'd need to get an appraisal on your current house and show that you have 20-25% equity in the house. If so, the lender feels there is a low chance you of walking away from the property. There are many people in today's market looking to buy a new house and let the current one go. If you have 20-25% equity in the current home, I'd need a rental agreement signed by the new tenant and a cancelled check for the deposit amount. The rental income will obviously have to "make sense" with the going rent in that area.Please call when you have the time! Respectfully, Brock R. Hicks, C.M.P.S. Financial Planner / Loan Specialist Toll Free: 1-877-RATE-1ST Office: 949-243-7989 ext 102 Direct: 949-287-4058 Fax: 949-612-1565Website: www.Rate1st.com Email: brock.hicks@rate1st.com

If you call us at 949-287-4058 we can spend 5 minutes getting a clear picture of your scenario and give you some accurate answers.